Late Thursday, amid swirling speculation about an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though the network is hardly a impeccable news source, her words resonated to many. It stands as one of the broadcasters where you can find fact-based and mostly trustworthy reporting – especially during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a Business Tug-of-War
Yet the news network, now middle-aged, finds itself in a uncertain state as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-risk game of business acquisition, not as a question of what benefits the information-seeking public.
“Here is one more case of the deep structural problems with roots in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a corporate drama with key players as the protagonists, but there is hardly any discussion of the public interest,” Pickard added.
The Additional Element: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of More Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a safe harbor. That setup could pave the way for CNN for another sale. It never ends.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu argued.
The Core Problem and a Potential Solution
Whatever happens regarding CNN, the underlying crisis endures.
“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Initiatives that support independent news organizations, reinforce local journalism, finance public media, and outlaw the accumulation of media power in a handful of hands are within reach – they are necessary for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pieces in the most recent corporate chess match.
